Argentina’s new president, Javier Milei, can significantly increase the use of Bitcoin (BTC) and cryptocurrencies in the country.
Argentina, struggling with hyperinflation, elected Bitcoin supporter Javier Milei as president. This decision of the people, combined with the radical steps of Milei, resulted in It can seriously increase the rate of Bitcoin and cryptocurrency usage is considered.
Just after Javier Milei’i was elected as president even after 1 day Bitcoin against Argentine Peso to an all-time high It was close. This situation was interpreted as a clear indication of what might happen in the future.
Bitcoin is the solution against inflation
Grayscale Research In a report published by Milei on the subject, the steps to be taken by Milei Bitcoin integration in the country It was stated that it could increase speed.
Argentina just like Türkiye against Bitcoin and cryptocurrencies such as Among the countries showing great interest It is located. However, it is important for the country to take these steps to a higher level through legal means. A solution to the inflationary structure It is thought that it can bring:
Milei’s presidency could pave the way for greater acceptance and integration of cryptocurrencies in the Argentine economy, offering a potential solution to long-standing problems of inflation and financial instability. Milei sees Bitcoin as an important tool in countering the inefficiencies and corruption of centralized financial systems.
On the other hand, CoinShares research analyst offers a more striking perspective on the subject Max Shannon, hyperinflationary He wrote that the environment will eventually lead to the end of the Argentine Peso and a return to Bitcoin as the country’s legal currency:
Milei is pro-dollarization and pro-Bitcoin. Dollarization occurs when a significant portion of the economy operates formally or unofficially in foreign currencies. This brings much-needed price stability and restores confidence in economic transactions and asset valuation.
Among Milei’s presidential promises fraud and labor with exploitation accuses closing the central bank completely It was located. Additionally, the new president, in a recent interview, said Bitcoin: Taking the power of money away from colonizers and returning it to the public and private sector defined it as a financial tool that facilitates
Bitcoin may soon become legal tender
The co-founder of the crypto company Ledn, who attracted attention with a similar comment he made about the developments. Mauricio Di Bartolomeo He argued that the country could soon declare Bitcoin and stablecoins as legal tender. Bartolomeo said in his statement that the Argentinian people will soon be both Bitcoin as well as stablecoins He suggested that he would start trading with:
Milei plans to dollarize the Argentine economy by killing the Peso and closing the Central Bank of Argentina. It also plans to get rid of ‘legal tender’ laws, meaning Argentinians will be able to freely choose whatever currency (or crypto asset) they want for their daily use. Argentinians will soon be able to legally trade Bitcoin and stablecoins. This will further increase adoption